“better placed” isn’t sufficient. ECB is entering a space where they will create a mass surveillance system over the spending of 400mm people.
ECB will need a better narrative than “we’re more trusted than facebook”.
ECB will need a better narrative than “we’re more trusted than facebook”.
https://twitter.com/ecb/status/1406520113499721730
Good news for Greeks and Cypriots perhaps - the CB will not close off access to CBDC in a financial crisis, like banks closed off access to the people’s money in the Greek and Cypriot crises.
ecb.europa.eu/press/inter/da…
Do we believe that?
ecb.europa.eu/press/inter/da…
Do we believe that?
Apparently, yes, the ECB is going to set itself up in the risk competition as the risk-free money provider.
Apparently, no, as the ECB is going to appoint commercial banks (and others) as service providers. Including of AML/KYC which is open permission to do anything.
The fix is in? No more talk of financial inclusion?
The fix is in? No more talk of financial inclusion?
Panetta is on more solid ground calling so-called “stable coins” unstable coins.
But loses it on the common criminality charge: "we know from recent experience that those crypto-assets are largely used for criminal activities” which the data denies.
Then, Monetary Policy:
But loses it on the common criminality charge: "we know from recent experience that those crypto-assets are largely used for criminal activities” which the data denies.
Then, Monetary Policy:
There it is, folks. Save that tweet! Bc the future might be very different 🙂
Meanwhile, Panetta leans heavily on €3000 cap. Which is high for some, low for others, including various financial inclusion scenarios.
This is the trap - close it too much, risk failure.
Meanwhile, Panetta leans heavily on €3000 cap. Which is high for some, low for others, including various financial inclusion scenarios.
This is the trap - close it too much, risk failure.
Finally, a tantalising comment about cross-border international payments.
Nice in theory, but we know that we cannot transact onside borders without the foreigners getting access to our data. Nice try, but no thanks.
Privacy is #1
Nice in theory, but we know that we cannot transact onside borders without the foreigners getting access to our data. Nice try, but no thanks.
Privacy is #1
additional article:
Digital euro will protect consumer privacy, ECB executive pledges
ft.com/content/e59e5d…
Digital euro will protect consumer privacy, ECB executive pledges
ft.com/content/e59e5d…
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